Six-Family Corner Apartment
For Sale
$3,200,000
1041 Belmont Ave, Brooklyn, NY 11208
1930-built multifamily property with six free-market residential units.
Property Size4,800 SF
Lot Size0.05 Acres
Price / SF$666.67
Days on Market51
Property Features for 1041 Belmont Ave
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.05 Acres
Property subtype
Commercial
Additional Details
Public Transit
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$12,745
Building Details
Building Size
4,800 SF
Year Built
1930
Buildings
1
Units
6
Listing Agency:
Exit Realty Central
Listed By:
Arthur F. Martinez SFR · License #1041648
(347) 385-4885
Source:
Elliman
Added: Aug 26
Changed: Oct 7
Last Checked: Oct 15 at 1:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exit Realty Central
Investment Insights
Based on property information with market context.
This corner apartment property in Brooklyn contains six free-market residential units within approximately 4,800 square feet. The building was constructed in 1930 and occupies a 20x100 lot, providing a defined multifamily configuration for ownership and management review.
The property is situated near shops, schools, parks, supermarkets, and public transportation. Its six-family layout and established construction date provide the core physical facts for evaluating this residential income property.
The property is situated near shops, schools, parks, supermarkets, and public transportation. Its six-family layout and established construction date provide the core physical facts for evaluating this residential income property.
Key Highlights
- Six‑family free‑market apartment building
- Approximately 4,800 square feet of building area
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,714
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,194,280
$2.2M
Cap Rate 7%
$1,567,343
$1.6M
Cap Rate 9%
$1,219,044
$1.2M
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$207.4K $43.20/SF
− Vacancy
−$7.9K −$1.64/SF
EGI
$199.5K $41.56/SF
− OpEx
−$89.8K −$18.70/SF
NOI
$109.7K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,194,280
Cap Rate 7%
$1,567,343
Cap Rate 9%
$1,219,044
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,714 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,591 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - 1930-built multifamily property with six free-market residential units.
Where is this apartment building located?
The property is located at 1041 Belmont Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Six‑family free‑market apartment building; Approximately 4,800 square feet of building area; Built in 1930
